Properties Under Contract
I'm from MI and me and my husband just went to Ron Legrand's seminar. What I want to know is, if i can not sell a property under my contract ( i don't have real estate license). What should I do? Close under a Realtor and give him a precentage of my profits?
You should not need a real estate license to wholesale. What you are selling is the contract which includes your interest in real property. You are not specifically selling the property itself. I suggest you contact an attorney to clarify, or go to your local real estate investment association. Since you are in Michigan, you may also want to look up Wendy Patton. She is also somewhere in MI. She does not wholesale, but she does lease options. She may still be able to give you the skinny on wholesaling in MI.
Nobody needs a license to sell what he owns.
If you sell your contract rights, you're selling your property so no license is needed.
A RE license is needed only for one who is providing an agent's services for another person...as the state does not want an ignorant person, unlearned in RE practices and requirements, to be representing any body else in a RE transaction.
I agree with you John, but JohnMichael and I went round and round about it, so I am leaving room for the remote possibility that there may be some obscure part of the world where it may be a problem.